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  #16  
Old 11-22-2019, 09:21 AM
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Originally Posted by retiredguy123 View Post
My parents and I used to vacation every summer for a week in Ocean City, MD in the 1950's. There was no 35th Street. But, one year my mom saw a sign to buy oceanfront lots for $5,000 and she said that we should buy one. My dad immediately said, "$5,000 for a lot! Are they crazy?"
I actually worked at Billy's Famous Subs at his original location on Wicomico St. and the Boardwalk in '69 for one summer. I had taken the car and looked at land for $2,000 an acre but as a 19 year old, I didn't have any money. The next year I was in the Army and going to school in Alabama and spent every weekend in Panama City Beach. There was maybe a 1/2 mile of homes and motels and that all there was back then. Today PC (as it's called) is 30 miles of condos, motels, amusement parks and bars and restaurants. If we only had the money then, life would be so easy now.
  #17  
Old 11-22-2019, 09:38 AM
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Originally Posted by jcvdd1 View Post
A family member just sold a piece of property in Manhattan and sold it for an ---insane--- amount of money. Although he is just a "regular" recently retired guy, he wishes to use the proceeds and purchase a grand home in The Villages and he is asking for my help.

He has a budget for the house of 2.5 million with more than enough money left over to last him for the rest of his life and for the rest of his children's life. The budgeted amount would include the house, all fees, taxes and all furnishing.

"BEFORE" consulting a real estate agent and tax professional, any suggestions where we can look ?

Once again, Thank You !!!
OP, congratulations to your relative and friend. I’m sure any number of Realtors would be glad to show you and your friend several “upscale” properties in The Villages. It’s my experience that friends and family are just as important as the material possessions that we have been fortunate to obtain. You apparently know this friend and relative pretty well or he would not be asking you to do this. He apparently has a great deal of trust and confidence in you. Discuss with him what he has in mind for his retirement lifestyle. Does he like to play golf, tennis/pickleball, swim/workout, etc. ? Does he plan to keep a home in New York? I would then quietly go about scouting for upscale homes that would be suitable for his lifestyle. Good hunting and due diligence when you two agree on a piece of property to make an offer on.
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  #18  
Old 11-22-2019, 10:00 AM
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We rented in Gulf Harbor, ft Myers. Great properties and location
Gulf Harbour Yacht & Country Club | Private Club | Fort Myers, Florida
Gulf Harbour Yacht & Country Club | Fort Myers, FL Retirement Communities | 55places
  #19  
Old 11-22-2019, 10:47 AM
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Originally Posted by John_W View Post
I have a cousin who passed away last year, but anybody that has been to Ocean City, Maryland probably has seen Billy's Famous Subs on 140th Street. He moved his sub shop from the boardwalk to that location in 1974 and took a gamble buying 3 acres for $40,000. At that time, there was nothing but sand dunes, the boardwalk ended at 35th St. and beyond that was very little. By 2000 the entire area well beyond his sub shop was built up and he retired and gave the shop to his long time manager and sold the remaining acreage for $3 million dollars, which just added to his retirement.

Anyway, he always looked for ways to make money. In 1985 when he wanted to build a house in Florida, his sub business was summer only and he wanted a winter home. He went to Hollywood, Florida and put in $600,000 along with two friends who also each put in $600,000. So for $1.8 million they bought a canal lot and built this six unit condo with parking and storage underneath, a pool in the back, plus a dock for their boat on the canal. Each of the three investors got one condo to live in and one condo to sell. So basically they built the home for free. This is the building at 3300 N. Ocean Drive.



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Thanks for sharing the story of Billy's Subs. We bought our first place in OC in 1979 and still own a place on the ocean at 145th. Life is Good!
  #20  
Old 11-22-2019, 11:47 AM
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Originally Posted by jblum315 View Post
With 2.5 million to spend on a house, why TThe Villages?
If that was my house budget I would buy a really nice house in the Villages for way less than $2.5 MM and also get a place in St. John, USVI with the change. How great would that be : )
  #21  
Old 11-22-2019, 11:50 AM
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2 homes makes sense to me too, for variety and the weather as long as it is easy to get back and forth between them. But it is double the work.
  #22  
Old 11-22-2019, 12:35 PM
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Originally Posted by Velvet View Post
2 homes makes sense to me too, for variety and the weather as long as it is easy to get back and forth between them. But it is double the work.

Excellent point -

I will strongly suggest that he purchase a "nice" home within The Villages along with a home near The Treasure Coast.... Thanks
  #23  
Old 11-22-2019, 12:59 PM
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Originally Posted by Aces4 View Post
I would thoughtfully suggest he rents, all over Florida if he is intent on living in Florida. The Villages may be his cup of tea or he may fall in love with other areas such as a home by the Gulf of Mexico. Good luck to him but I hope he does his homework.
There's a lot of vacant land in Mexico Beach now.
  #24  
Old 11-22-2019, 01:35 PM
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Or within The Villages (between 466 and the Polo) fields is this option:

Lakes and Live Oaks | Lady Lake, FL - Marion County | Land for Sale | Farm & Ranch
  #25  
Old 11-22-2019, 02:12 PM
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Originally Posted by papasetti82 View Post
There's a lot of vacant land in Mexico Beach now.
Thanks-
Also an excellent point but unfortunately, the "house-flippers" have already picked-up most of the beach front distressed properties literally days after the storm. But thanks for the idea.....
  #26  
Old 11-22-2019, 05:23 PM
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Default Rent first

My advice is to rent for a year or so to see if this is where he wants to live. The real estate market at that price level is much more limited not to mention the broker fees.

I also think a second place to escape the summer heat is a great option for those with the money.
  #27  
Old 11-23-2019, 09:09 AM
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Originally Posted by fromct View Post
Or within The Villages (between 466 and the Polo) fields is this option:

Lakes and Live Oaks | Lady Lake, FL - Marion County | Land for Sale | Farm & Ranch
I had no idea where this was, although I had seen this ad before. I looked up the address on sumterpa.com to see who owned it and I was surprised and I posted the name and that post was deleted.

I am surprised and a little worried that Mark Morse didn't buy it for less than three million. hmmm, is he low on cash?
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  #28  
Old 11-23-2019, 09:24 AM
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Originally Posted by graciegirl View Post
I had no idea where this was, although I had seen this ad before. I looked up the address on sumterpa.com to see who owned it and I was surprised and I posted the name and that post was deleted.

I am surprised and a little worried that Mark Morse didn't buy it for less than three million. hmmm, is he low on cash?



He is low on cash because HE raised HIS property taxes by 25%.











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  #29  
Old 11-23-2019, 10:18 AM
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Originally Posted by graciegirl View Post
I had no idea where this was, although I had seen this ad before. I looked up the address on sumterpa.com to see who owned it and I was surprised and I posted the name and that post was deleted.

I am surprised and a little worried that Mark Morse didn't buy it for less than three million. hmmm, is he low on cash?
Look it up again! He did own it some time ago. It's all public information.
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  #30  
Old 11-23-2019, 10:53 AM
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Originally Posted by CWGUY View Post
Look it up again! He did own it some time ago. It's all public information.
The name on the Sumterpa.com was the same name as a business at Lake Sumter Landing.

I really am having such a wonderful day, I don't want to be deleted. It hurts my feelers.
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